The High-Beta Rich by Robert Frank

"The rich are not only getting richer — they are becoming more dangerous." That's according to Robert Frank's new book — The High-Beta Rich: How the Manic Wealthy Will Take Us to the Next Boom, Bubble and Bust — which argues that the spending binges of the top 1 percent have become "the most unstable force in the economy."

According to the Wall Street Journal writer, for some of the high-beta rich wealth is a "mirage in the desert," wherein the facade of fancy trappings conceals massive debt. Frank spoke to NPR's Neal Conan, take a listen below: